The US M2 money supply increased 0.4% MoM to $21.94 trillion in May, slowing from the 0.7% MoM increase in April. The annual increase accelerated slightly from 4.4% YoY to 4.5% YoY.

• M1 money supply increased just 0.2% MoM to $18.71 trillion with annual growth remaining unchanged at 3.9% YoY.
• Total currency in circulation was up 1.6% YoY (prev 1.4% YoY) while reserve balances fell -3.4% YoY (prev -2.2% YoY) and the monetary base contracted by -1.3% YoY (prev -0.7% YoY).